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Kazakhstan proposes to introduce state regulation of oil prices and the volume of its supplies to the domestic market, Kazinform reports.

Rustam Akhmetov, First Deputy Chairman of the Agency of the Republic of Kazakhstan for the Protection and Development of Competition, at a briefing in the Central Communications Service proposed the introduction of state regulation of oil prices and volumes of its supplies to the domestic market to develop competition in the oil and oil product markets.

“This will ensure price stability at the first stages of reducing concentration and transparency of pricing in the market,” the speaker said.

It is also proposed to sell oil on the stock exchange. At the first stage, in the amount of 5-10% produced by independent companies, and an increase in exchange trading in oil products up to 30%.